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MORTGAC~F - RIDER
THts Moerc~cs Rt~gR is incorporated into that certain mortgage entered into by
PAUL N. NOTTINGHAM and_MAR~4~ JL1Y4~T1NGHAM.--his wife__.___-
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and FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF MARTIN COUN1'Y.
The following are additional covenants under the above referenced mortgage:
24. If foreclosure proceedings of any second mortgage or second trust deed or any junior lien of any
kind ahould be instituted. the Association may at its option. immediately or thereafter declar~ this
mortgage and the indebtedness secured hereby due and paysble.
25. To the eztent of the indebtednesa of the Mortgagors to the Association described herein or secur~d '
hereby~ the Association is hereby submgated to the lien or liens and to the rights ot the ov~mera
and holders thereof of each and every mortgage. lien or other encumbrance on the land described
herein which is paid and (or) satis6ed. in whole or in part, out of the proceeds of the loan described
herein or secured hereby, and the respective liens of said mortgages, liens or other encumbrances.
shaA pass to and be held by the A.gsociation herein as security for the indebtedness to the Asso-
ciation herein described or hereby secured~ to the same extent that it would have been preserved
and would have been passed to and been held by the Association had it been duly and regularly
aasigned, transferred. set over and delivered unto the Association by separatc deed of assignment,
notwithstanding the fact that the same may be satisfied and cancelled of record, it being the inten-
tion of the parties hereto that the same will be satisfied and cancelled of record by the holders
thereof at or about the time of the recording of this mortgage.
26. That in the event that this mortgage be given to secure a construction loan. failure on the part of
the Mortgagors or their conLractors to complete said building in accordance with Construction
Loan Agreement, of even date herewitfi. or to build said construction in aocordance with plans ;
and specifications filed with the Association~ shall constitute a breach of this mortgage, and, at the ~
option of the Association, immediately mature the entirE amount of principal and interest hereby t
~ secured and the Association may immediately institute proceedings to for~close this mortgage.
In the event this mortgage is purchased by a third party, these additional covenants mentioned above
shall become null and void. ~
IN WITNESS WHEREOF, Borrower has eaecuted this Mortgage Rider this ~ ~g day of ~
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October , 19?8 ~ ~
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' Signed, sealed and deliverea ` ~-~-~G~~' i2~~ -t~(Seal)
; in th prese of: PAUL N. NO T GAA
i • ~ • Sesl)
~ n MARJ9 IE J NO TING M
~ • ~ a1.~..eX ~
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$ ~ ` INDIANA .
~ S'FATE'.Q~' ss. •
~ • CCIU~1~`Y O ` ~ . ~
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_ 'T-!~~ foregoiiig'instrument was acknowledged before me this day of
~ ' October , lg 78 _ hy_PAUL N. NOTTINGHAM and MAR3~RIE J.
~ NOTTIr1GHA1~, hie wife
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~ • (SEAL) ~ ~ - - _ -
• Notary Public -
~ • My Commission Expire~: O~a?-~~:``
`Y STATE OF FLORIDA ~ ~ • ~
y COUNTY OF ~
i< The foregoing instrument was acknowledged before me this day of
- - - 19 bY - - _ and r
respectively. -
- President and ---Secretary of
;~~r a corporation, on behalf of the corporation.
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Notary Public
A-~OIA ~2/76
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